SciSparc Signs $6M Pain Treatment Out-Licensing LOI
Ticker: SPRC · Form: 6-K · Filed: Jul 17, 2024 · CIK: 1611746
| Field | Detail |
|---|---|
| Company | Scisparc Ltd. (SPRC) |
| Form Type | 6-K |
| Filed Date | Jul 17, 2024 |
| Risk Level | medium |
| Pages | 1 |
| Reading Time | 1 min |
| Key Dollar Amounts | $6 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: licensing, out-licensing, letter-of-intent, pharmaceutical
TL;DR
SciSparc inks LOI for $6M global pain treatment license deal.
AI Summary
On July 17, 2024, SciSparc Ltd. announced it has signed a non-binding Letter of Intent (LOI) for the exclusive global out-licensing of its pain treatment. The deal is valued at approximately $6 million.
Why It Matters
This out-licensing agreement could provide SciSparc with significant upfront capital and future royalties, validating their pain treatment technology.
Risk Assessment
Risk Level: medium — The LOI is non-binding, meaning the deal may not be finalized, and the $6 million is an approximate valuation.
Key Numbers
- $6 million — Deal Value (Approximate upfront payment for the exclusive global out-licensing of SciSparc's pain treatment.)
Key Players & Entities
- SciSparc Ltd. (company) — Company issuing the press release
- July 17, 2024 (date) — Date of the press release and LOI signing
- $6 million (dollar_amount) — Approximate value of the out-licensing deal
FAQ
What is the specific nature of the pain treatment being out-licensed?
The filing does not specify the exact nature or target of the pain treatment, only that it is for pain treatment.
What are the key terms and conditions of the non-binding Letter of Intent?
The filing states it is a non-binding LOI for exclusive global out-licensing, with an approximate value of $6 million, but does not detail other specific terms.
Who is the counterparty in this Letter of Intent?
The filing does not disclose the name of the party with whom SciSparc signed the non-binding Letter of Intent.
What is the timeline for finalizing this out-licensing agreement?
The filing does not provide a specific timeline for the definitive agreement beyond the announcement of the non-binding LOI.
Does the $6 million represent a one-time payment or include potential future milestones/royalties?
The filing describes the $6 million as the approximate value of the deal, but does not specify if it is solely an upfront payment or includes other components.
Filing Stats: 321 words · 1 min read · ~1 pages · Grade level 10.7 · Accepted 2024-07-17 09:25:02
Key Financial Figures
- $6 million — ing of Pain Treatment for Approximately $6 million.” A copy of this press release is
Filing Documents
- ea0209554-6k_scisparc.htm (6-K) — 12KB
- ea020955401ex99-1_scisparc.htm (EX-99.1) — 8KB
- ex99-1_001.jpg (GRAPHIC) — 1KB
- 0001213900-24-061963.txt ( ) — 23KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SciSparc Ltd. Date: July 17, 2024 By: /s/ Oz Adler Name: Oz Adler Title: Chief Executive Officer and Chief Financial Officer 3